[Updated] These Are The 15 Best Accelerators In The U.S.

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Business accelerators like Y Combinator and TechStars have come to occupy a critical geography in the tech landscape, and today two professors are announcing the results of their survey to determine which ones have come out on top at South By Southwest.

“The goal of the seed accelerator rankings project is to start a larger conversation about the accelerator phenomenon, its effects and its prospects for the future,” according to a presentation by Professor Yael Hochberg, a faculty member at the MIT Sloan School of Management.

Hochberg and her colleague, Professor Susan Cohen of the University of Richmond and the Batten Institute at the University of Virginia’s Darden School of Business, used original research and data from CrunchBase to determine the best 15 accelerators in the U.S. Those accelerators were then grouped into Gold, Silver and Bronze categories to reflect how they performed in a series of categories. Here are the best:

The proliferation of these ventures has caused some in the industry to worry about the potential for an accelerator bubble.

Most accelerators provide a stipend or small seed investment, mentoring, and workspace and professional services in exchange for an equity stake in the company. Typically the equity investment is around $25,000 and the equity stake is roughly 6 percent, according to Hochberg’s research.

To be included in the rankings, accelerators needed to have graduated at least one cohort by 2013, be based in the U.S. and have at least 10 graduates in their class.

Hochberg measured the accelerators based on the valuations their portfolio companies achieved in the years after graduation; the number of exits an accelerator has had; the ability of companies to receive additional financing after they left an accelerator program; the percentage of an accelerator’s portfolio that was still in operation; the opinion venture investors have of the accelerator program; and finally the opinion that graduating entrepreneurs had of their experience.

Two years out from graduation, the valuation of all portfolio companies was bout $5 million and the average valuation of a priced round or exit was $11 million. Both of those numbers are significantly lower than the average valuation across all portfolio companies in accelerators — $17 million. And the average valuation of all portfolio companies on a priced round or exit was $29 million.

Another key metric is follow-on financing. Roughly 59.3 percent of all companies in accelerator programs have gone on to raise follow-on financing. Across portfolios, the average raise was $1.8 million through either internal or external rounds and $2.8 million for companies that just raised outside funding.

As for exits, it’s far too soon to tell. Historically a venture investment takes around seven to nine years to exit, and the oldest accelerator program — Y Combinator — is only nine years old itself. The average accelerator program is only 3.1 years old and has only graduated nearly seven groups of companies. Across all startups invested by accelerators, only 2.1 percent have had a meaningful exit, according to the report.

No matter what the results are, entrepreneurs are almost universally happy with the accelerator experience. Roughly 90 percent of the ones Hochberg and Cohen surveyed said they would repeat the experience, and 95 percent said it was worth it to give up the equity.

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CrunchBase

OverviewY Combinator is a startup accelerator based in Mountain View, CA.
In 2005, Y Combinator developed a new model of startup funding. Twice a year they invest a small amount of money ($14-20k + an $80k safe) in a large number of startups (most recently 68). The startups move to Silicon Valley for 3 months. The YC partners work closely with each company to get them into the best possible shape and refine …

OverviewThe massive Techstars interconnected network of over 3,000 successful entrepreneurs, mentors, investors, and corporate partners help the most promising startups do more faster. With 15 programs worldwide, our mentorship-driven accelerators fund the best companies in the most entrepreneurial communities. Since 2006, 80% of the 500 companies from almost 40 Techstars programs have received funding, representing …

OverviewAngelPad is a mentorship program founded by ex-Googlers Thomas Korte to help web and mobile technology startups build better products, attract additional funding and ultimately grow more successful businesses.

OverviewLaunchpad LA is a startup accelerator and seed fund in Santa Monica, CA.
They offer each accepted company a $25,000-$150,000 investment, free office space in the heart of Santa Monica (one block from the beach) for four months, a ton of perks and discounts, and most importantly, access to a massive network of mentors, advisors, and investors.
As of April 2014, Launchpad LA has invested in 46 companies, …

OverviewAlphaLab is a leading startup accelerator founded in 2008 and based in Pittsburgh, PA. AlphaLab is a charter member of the Global Accelerator Network (GAN) and has a proven track record in helping to launch high-growth startup companies including Black Locus (acquired by Home Depot), The Resumator, NoWait, Black Locus, Shoefitr, and Insurance Zebra.
AlphaLab is part of Innovation Works, an early-stage …

OverviewThe Capital Innovators Accelerator Program provides $50,000 in seed funding, project-based mentorship from a seasoned pool of knowledgeable entrepreneurs, stellar perks, networking, and follow-on funding opportunities over the course of 12 weeks.
Although hundreds of applications are received for the Accelerator Program each year, only five companies are accepted per class. Two classes are run each …

OverviewTechWildcatters is a mentorship-driven microseed fund and startup accelerator. Their 12-week accelerator “bootcamp” has been rated as a Top 10 Accelerator/Incubator by Forbes.
They’re very selective – each year they expect hundreds of companies to apply to the program and 8-10 of them will be invited to Dallas for each class. The companies get up to $25,000 in seed funding, intensive top-notch …

OverviewBased in Houston, Texas, "The Energy Capital of the World", SURGE is a leading seed fund and mentor-driven accelerator that identifies, invests in, and enables entrepreneurs who are solving the world's energy problems. SURGE identifies leaders, validates business models, raises capital, and connects startups to customers and the global energy ecosystem. SURGE has recruited over 150 of …

OverviewThe Brandery is a seed-stage startup accelerator nationally ranked as one of the top ten programs in the United States.
The Brandery is a seed stage startup accelerator that leverages the expertise of the Cincinnati region, namely branding, marketing and design. We believe that building your brand-- and not just a product-- is a way startups can be more resource efficient and increase their probability …

OverviewBetaspring is a mentorship-driven Providence-based startup accelerator program for technology and design entrepreneurs who are ready to build a product, launch a company, and change the world.
Betaspring runs two 13 week accelerator sessions a year (Spring and Fall) that attract top-quality startup teams from across the US and around the world.

OverviewEntrepreneurs Roundtable Accelerator (ERA) is an early-stage seed fund and technology accelerator created by New Yorkers, for New York. It is committed to helping build the next generation of great New York technology companies. ERA looks for companies that are best able to take full advantage of the NYC opportunity as a starting point to successfully enter the market for their product, service or …

OverviewJumpstart Foundry is a healthcare innovation platform with one simple mission: Make Something Better.
Located in Nashville, TN, JSF is dedicated to being the home of healthcare innovation, helping entrepreneurs make something that truly makes a difference. During our 14-week flagship accelerator stretching from May to August, we’ll provide you with the knowledge, expertise, and partners needed to …

OverviewThe DreamIt founders designed DreamIt’s accelerator programs to include what they wish they had when they started and sold their first companies. With only a small amount of money, they found that entrepreneurs can make a big difference when surrounded by the right resources: unique and ongoing mentorship from successful entrepreneurs, access to top-tier legal and accounting services, opportunities …